Fluence Energy (NASDAQ:FLNC) Stock Price Up 7.6% on Analyst Upgrade

Fluence Energy, Inc. (NASDAQ:FLNC) rose 7.6% during trading on Friday after Roth Capital raised their price target on the stock from $7.00 to $17.00. Roth Capital currently has a neutral rating on the stock. Fluence Energy traded as high as $17.41 and last traded at $17.4780. Approximately 3,661,879 shares were traded during trading, a decline of 37% from the average daily volume of 5,835,018 shares. The stock had previously closed at $16.25.

FLNC has been the subject of several other reports. Seaport Res Ptn cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Barclays set a $13.00 target price on shares of Fluence Energy in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Fluence Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. BNP Paribas Exane reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Fluence Energy in a research note on Tuesday, October 21st. Finally, HSBC lowered Fluence Energy from a “hold” rating to a “reduce” rating and set a $5.00 price objective for the company. in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $9.48.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after buying an additional 2,076,668 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Fluence Energy by 1,794.8% during the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock worth $12,539,000 after acquiring an additional 1,770,090 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fluence Energy by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company’s stock valued at $11,298,000 after acquiring an additional 153,614 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fluence Energy in the 3rd quarter valued at approximately $12,901,000. Finally, Erste Asset Management GmbH lifted its holdings in Fluence Energy by 369.2% in the 3rd quarter. Erste Asset Management GmbH now owns 1,100,192 shares of the company’s stock worth $12,542,000 after purchasing an additional 865,688 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 10.2%

The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $14.79 and a 200-day simple moving average of $9.49. The stock has a market cap of $3.27 billion, a P/E ratio of -85.29 and a beta of 2.88.

Fluence Energy Company Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.